Interested in how to start a handyman business? Starting this type of business is relatively simple compared to other businesses but it is also not as easy as some people make it out to be. Before you begin you will need to gather several important resources. These include some basic tools that you may already have lying around your house such as pliers, screw drivers, an electric drill and an angle grinder.
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Start with a Home-based Small Business Insurance Policy. There are several small business insurance policies available to cover your home based handyman services. Simply conduct a search online for "small business insurance" and several different companies will be listed that can assist you with your needs. Additionally you may wish to inquire with your local insurance agent to see if they carry small business insurance as well.
Obtain an Insurance Estimate. Handyman estimates vary depending on the size of your handyman business. You will want to obtain an estimate from several different contractors in order to determine the cost of doing repairs for a single job. For larger jobs, such as installing new window frames or repairing an attic or wall, it is typically recommended to obtain an estimate from three or four different contractors. By doing this, you will be able to obtain an accurate single hourly rate which will assist you with your business planning.
How to Start a Handyman Business
Create a Business Plan. Once you have obtained all the necessary information, it is time to put together a business plan. Your business plan will consist of the name of your company, the type of work you will provide, the start up costs and some of the expenses that you may need to incur during operations. A business plan may also include an estimate of your profits if you are planning to charge for some of your services.
Develop a Marketing Plan. The most important step involved in how to start a handyman business is developing a marketing plan. You will want to develop a marketing plan that includes both traditional and nontraditional methods of advertising. In addition, you will want to develop a referral system. This is extremely important, as you may want to be able to solicit referrals for your business from other handymen in your area who may be interested in doing some repair work as well.
Purchase Purchasing Small Business Insurance. In order to ensure that your contractor employees are protected by adequate small business insurance should an accident occur. Many insurance companies require handyman work to be completed under their small business insurance. If you are unsure of the requirements of your insurance company, it may be in your best interest to purchase such insurance as soon as possible.
Develop a List of Handyman Services You Will Perform. When you are first starting out, it may seem like a great idea to repair all of the houses in your neighborhood. However, you will quickly learn that not every home requires the same type of work. For example, you may only need to fix up doors and windows, rather than do complete gutters or install a patio door. If you don't currently provide handyman services, you may want to consider developing a short list of tasks that you can perform to start earning an income and developing a list of services that you will want to provide as your handyman business grows.
Create a Business Name. Once you have a list of small repair jobs that you can provide, you may want to create a website for your handyman business. You should keep in mind that your website should be professional in appearance and have all of the appropriate graphics so that potential customers will be impressed with your abilities and trust you when you perform your repairs.
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